La Richesse 2 (#1) Group

Judicael, age 35, is married and has a 9-month-old baby. He also cares and provides for his father. Judicael is representing the La Richesse 2 #1 group.

Judicael owns a barbershop for men. He has had this business for 4 years and has been able to acquire many loyal customers. He will use the loan to buy a generator for his shop because the electricity in Brazzaville is very inconsistent. He will use the rest of the loan to buy general hair supplies that he uses often. His business strategy is to offer friendly customer service and to keep his shop clean and looking nice.

Judicael has received 3 previous loans from Kiva’s partner, HOPE Congo. He has a good repayment record. He hopes to use future loans to buy comfortable salon chairs for his shop. He is also saving some profits to help pay for his child’s future education.

Additional Information

More information about this loan

Important Information

About HOPE Congo S.A.: HOPE Congo S.A. is a start-up microfinance institution located in Brazzaville, Republic of the Congo. As of 2009, the Republic of the Congo was the 136th-ranked country in the United Nations Development Programme’s Human Development Index. The average life expectancy is in the low 50s and food insecurity poses a constant threat to ordinary people’s well-being. Through the creation of community banks, HOPE Congo provides credit, savings, and training for entrepreneurs in Brazzaville. With their services, they aim to nourish a culture of saving and an independent community of responsible and self-sustaining entrepreneurs.

Please note that this Field Partner does not meet all of the minimum criteria for partnership with Kiva. HOPE Congo is a start-up MFI that is being fully backed by the HOPE International with an institutional guarantee. Because Kiva lenders are fully protected against institutional failure by the guarantee agreement, Kiva felt it was appropriate to override our minimum criteria in order to access this new market.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.